Citibank Pays Up To $7.9M To End Debit Card Overdraft Suit

Law360, Washington (February 18, 2014, 2:28 PM EST) -- Citibank Inc. has agreed to pay up to $7.9 million to settle a proposed class action accusing the bank of of fraudulently charging customers overdraft fees on debit card purchases, according to settlement documents filed Friday.

Lead plaintiff Ronald S. Arendas asked the court in a motion to approve the settlement, which will provide between $5 million and $7.9 million to class members. Arendas said Citibank had agreed to the deal in mediation led by Edward A. Infante, the former chief magistrate judge of the Northern...
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